Fostering Hope

Nonprofit profile at a glance

EIN
462552438
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Solon, OH, USA
Phone
2166337798
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Foster Care

Official website

Reported finances

Revenue
$443,594
Expenses
$551,366
Assets
$569,147
Liabilities
$238,351

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • DIANE ATTELL (PRESIDENT)
  • GWEN GILLESPIE (VICE PRESIDENT)
  • MISSY TOMS (EXECUTIVE DIRECTOR (7/1-11/13))
  • ANNEMARIE GRASSI AMEFIA (EXECUTIVE DIRECTOR(11/13-6/30))

Highest reported compensation

  • ANNEMARIE GRASSI AMEFIA (EXECUTIVE DIRECTOR(11/13-6/30)): $76,334 total reported compensation
  • MISSY TOMS (EXECUTIVE DIRECTOR (7/1-11/13)): $61,667 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

At fostering hope, we are dedicated to enriching the lives of youth in foster care, kinship and residential treatment across northeast Ohio.

What it reported doing in 2024

Childhood experiences - creating moments that allow children to embrace the joy of childhood - engaging in meaningful activities that foster lasting memories and a sense of stability during challenging times. From navigating tough transitions, like entering foster care with the comfort of a journey bag filled with essentials, to celebrating milestones such as birthdays away from home, and rekindling the magic of the holiday season, we are dedicated to spreading joy and providing consistency throughout the year.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.5%; rating input score 95
  • Program expense ratio: 76.7%; rating input score 77
  • Fundraising efficiency: $6.17 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -24.3%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 25%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 26.3% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 95.5% of revenue deployed · 76.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $423K in reported program spending
  • Leadership: top reported pay $76K · 14 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.